EPAM has successfully sold its Russian subsidiary to the Russian company Rexoft Group. This transaction, finalized on August 2nd, was recorded in the Unified State Register of Legal Entities of the Russian Federation. The exact financial details of the deal remain undisclosed.
As part of the acquisition, Rexoft Group has acquired the entirety of RNT Group, which holds the ownership rights to LLC "EPAM Systems." However, the agreement stipulates that Rexoft Group cannot utilize the EPAM brand within Russia. This integration process is expected to take about a year, and the combined workforce is projected to exceed 1,500 employees.
